I'm from Hawaii, but found a few places that make sense financially, but still doing my due diligence. 

IT'S NOT AND ADVICE JUST THE WAY WORKED FOR ME I'M NOT A FINANCIAL ADVISOR

@Austin Shandley  Go get em Austin... keep that foot on the pedal... don't stop... shoot another post in a year titled "ALLOW ME TO REINTRODUCE MYSELF" as a financially independent dad uber rich with TIME to be able to raise the young-ins!

If you do a refi-out, reduce your equity by loan proceeds distributed (they're not an income, they're the asset offset related to the loan liability).

I received Allen Financial Services information through facebook, they are out of San Antonio Texas. 

Their primary goal is to offload the property, not to hold onto it or get the best possible price.If you're considering making an offer on an REO property, it's advisable to approach it with a clear strategy:Research the Property: Understand the extent of repairs needed and estimate those costs accurately.Know the Market: Determine the after-repair value of the property to ensure your investment makes financial sense.Submit a Competitive Offer: Based on your research, submit an offer that is competitive but leaves room for the necessary renovations.

Or you saved up a lump sum to serve as a reserve before purchasing the asset?

Depending on the strategy MANY technical skills can be involved from the trades going rehabs and repairs, legal, financial, project management, etc etc.

This could free up some capital that you might use for other investments or to strengthen your financial position.Down Payment Consideration: While putting down 50% can indeed provide positive cash flow and reduce interest costs, it's worth exploring other financing options.

I've too often seen an out of area investor get tied up financially with trusting a whole-salers or seller's description or promise of return / ARV.